Cosco declared its third quarter earnings on 5 Nov and it showed that the company’s net profit sank 84%. The plunge in profit was despite a 6% rise in turnover and its shares fell 4.4%. After the disappointing earnings, the shipping company announced two contract wins which caused its share price to increase, details below:
 
14 Nov: Cosco said that its subsidiary Cosco Shipyard Group secured contracts totalling over USD380mil to build two jackup drilling rigs and one bulk carrier. After the announcement, Cosco shares rallied 2.1% the next day. 
 
25 Nov: Cosco mentioned that its subsidiary Cosco (Qidong) Offshore Co was awarded contracts each in excess of USD200mil for the engineering, procurement and construction of two semi-submersible accommodation vessels. The next day, Cosco share price jumped 1.4%.

Source: Macquarie Research - 28 Nov 2013